Funds, brokers still have faith in China's A-shares

Singapore

WITH Beijing and Washington set to each slap tariffs on US$34 billion of imports today, onshore Chinese equities now stare a grisly fate in the face.

The benchmark Shanghai Composite lost 8.01 per cent in June, as a sell-off erased some optimism from MSCI index inclusion at the start of the month. Shanghai shed another 0.92 per cent on Thursday, the eve of the tariffs, while the offshore yuan had sagged by 0.1 per cent against the greenback as at 5.40pm, Singapore time.